Netflix Inc (NFLX.O)
shares rose 12 percent on Thursday after its top executive disclosed a massive
surge in customer usage, but analysts questioned the movie-rental company's
ability to convert that into revenue.
Chief Executive Reed Hastings said on Tuesday on Facebook that Netflix
subscribers watched 1 billion hours of TV shows and movies in June. This
compares to the 2 billion hours that was watched in the fourth quarter of 2011
-- when Netflix last reported this data.
"When 'House of Cards' and 'Arrested Development' debut, we'll blow these
records away," Hastings said in the post.
Article source - http://uk.reuters.com/article/2012/07/05/us-netflix-shares-idUKBRE8640UQ20120705
